Is your customer really king? – well only if he pays you!
What happens if one of your best customers goes bust?
Grin and bear it and put it down to experience? That’s fine if its only a small amount, what if its in the £10’s of 000’s
Would your business survive if your customers business failed?
For many companies the above has been reality, certainly in recent years, some of the lucky one’s had credit insurance in place and when their customer started on the slippery slope they were made aware and could react to the situation.
Unfortunately for many businesses the failure of one of their customers to pay for whatever reason actually forced their business into receivership, these companies didn’t have Credit insurance.
Having Credit insurance isn’t just about an insurer picking up the pieces if the worst happens, once the insurer has agreed to cover your customers they will know if this company starts to get into difficulty before you do, you can then take the necessary action to safeguard your positionCredit insurance doesn’t actually take much thinking about does it! Insure the risk now.